Total assets drop slightly at Colo. banks

Total assets decreased slightly at Colorado-based banks in the fourth quarter of 2013 when compared to the same quarter in 2012.

Data released today by the Federal Deposit Insurance Corp. show that total assets at Colorado institutions dipped from $45.7 million in the fourth quarter of 2012 to $44.9 million at the end of 2013.

Other real estate owned, or non-performing assets, dropped dramatically at Colorado banks, from $440,000 to $281,000. Banks have been working to shed these problems assets since the end of the recession, because they are a drag on the bank’s health and capital reserves.

Nationally, assets at banks increased year-over-year in the fourth quarter, but the increase was much smaller than the one seen the previous year. From 2011 to 2012, banks across the country saw an increase in assets from $13.8 billion to $14.4 billion, but in 2013 increased to $14.7 billion.

Loans increased in every category except residential, according to the FDIC, indicating that the slowdown in assets in the last part of 2013 could be attributed to a decrease in mortgage lending.

Total loans at Colorado banks increased slightly from $24 million at the end of 2012 to $25 million at the end of 2013.

FDIC-insured institutions nationwide reported aggregate net income of $40.3 billion in the fourth quarter of 2013, a 16.9 percent increase from the $34.4 billion in earnings that the industry reported a year earlier. This is the 17th time in the last 18 quarters—since the third quarter of 2009—that earnings have registered a year-over-year increase.

Comments

Leave a Reply

Connect with:

Your email address will not be published. Required fields are marked *

author email

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Molly Armbrister covers real estate, banking and health care for the Northern Colorado Business Report. She can be reached at 970-232-3139, marmbrister@ncbr.com or twitter.com/MArmbristerNCBR
Advertising

Social Network

 
Facebook Icon
Twitter Icon
LinkedIn Icon